On July 10, 2012, Sinobo Property win Beijing Wanliu Lot after 46 rounds auction at an accommodation value of 44,200/m2 with a 40% premium, which set a new price record of land sales in China.
Many big real estate companies have attended this auction, including Franshion Property, Longfor Property, MCC Real Estate, China Merchants Group, CSC Land Group, Overseas Chinese Town Group, Sunac China, Sinobo Property, etc. Poly Real Estate, jointed with Sunac China for the auction, pulled out of the auction just several hours before the auction on the requirements of its parent company Poly Group.
According to Beijing Municipal Bureau of Land and Resources announcement, Wanliu Lot auction starts from RMB1.866 billion with an accommodation value of 24,000/m2 . To 4th of July, the bureau has received 10 bids and the last bid is RMB1.956 billion with an accommodation value of more than 25,000/m2.
Finnally, Sinobogroup has win this auction with a new accommodation value record in China and last record is 43,228/m2 of Wangfujing Business Lot. According to current land price data, there is no accommodation value higher than Wanliu Lot in China now.
Sinobo Property was established in 2005 and is a wholly owned subsidiary of Sinobogroup. Sinobo Property focuses on the development and management of high end projects in key districts of key cities. Sinobo Property¡¯s projects include ¡°Northern Latitude 40¡ã¡± in Chaoyang District, Beijing, ¡°No.7 Diaoyutai Yard¡± in Haidian District, Beijing, ¡°New China Trade Centre¡± in Tangshan, Hebei Province, etc.
Northern Latitude 40¡ãis sold out.
No.7 Diaoyutai Yard is the project of highest price in China.